Robert W. Baird Raises Trane Technologies (NYSE:TT) Price Target to $365.00

Trane Technologies (NYSE:TT) had its price target raised by Robert W. Baird from $360.00 to $365.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also recently commented on TT. UBS Group lifted their target price on Trane Technologies from $330.00 to $375.00 and gave the stock a buy rating in a research note on Monday, June 3rd. Citigroup lifted their price objective on shares of Trane Technologies from $355.00 to $366.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Trane Technologies from $247.00 to $300.00 and gave the company a neutral rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their price target on shares of Trane Technologies from $287.00 to $326.00 and gave the stock a neutral rating in a report on Wednesday, May 1st. Finally, TD Cowen increased their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a buy rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $323.29.

Trane Technologies Stock Down 0.6 %

Trane Technologies stock traded down $2.04 during midday trading on Thursday, hitting $316.41. 1,106,515 shares of the stock were exchanged, compared to its average volume of 1,131,252. Trane Technologies has a 52-week low of $184.02 and a 52-week high of $351.41. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $331.66 and its 200-day moving average price is $306.41. The stock has a market capitalization of $71.40 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

Trane Technologies (NYSE:TT) last announced its earnings results on Wednesday, July 31st. The company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The firm had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 EPS. On average, research analysts expect that Trane Technologies will post 10.83 EPS for the current fiscal year.

Trane Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.84 dividend. The ex-dividend date is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.06%. Trane Technologies’s dividend payout ratio (DPR) is currently 35.90%.

Insiders Place Their Bets

In related news, SVP Evan M. Turtz sold 8,988 shares of Trane Technologies stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the sale, the senior vice president now owns 20,758 shares of the company’s stock, valued at $6,669,545.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $318.67, for a total value of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at $19,532,240.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Evan M. Turtz sold 8,988 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total value of $2,887,844.40. Following the transaction, the senior vice president now owns 20,758 shares in the company, valued at $6,669,545.40. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On Trane Technologies

A number of hedge funds have recently made changes to their positions in the business. PFG Private Wealth Management LLC increased its stake in shares of Trane Technologies by 4.7% in the second quarter. PFG Private Wealth Management LLC now owns 706 shares of the company’s stock worth $232,000 after buying an additional 32 shares during the period. Center for Financial Planning Inc. increased its position in shares of Trane Technologies by 1.7% in the first quarter. Center for Financial Planning Inc. now owns 2,080 shares of the company’s stock valued at $624,000 after acquiring an additional 34 shares during the period. Muirfield Wealth Advisors LLC raised its stake in shares of Trane Technologies by 4.1% during the second quarter. Muirfield Wealth Advisors LLC now owns 939 shares of the company’s stock valued at $309,000 after acquiring an additional 37 shares during the last quarter. Pure Financial Advisors LLC boosted its holdings in shares of Trane Technologies by 5.2% during the second quarter. Pure Financial Advisors LLC now owns 765 shares of the company’s stock worth $252,000 after purchasing an additional 38 shares during the period. Finally, Simmons Bank increased its holdings in Trane Technologies by 5.6% during the 2nd quarter. Simmons Bank now owns 718 shares of the company’s stock valued at $236,000 after purchasing an additional 38 shares during the period. 82.97% of the stock is currently owned by institutional investors.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.